Evonext Holdings Sa · SIX:EVE
Evonext Holdings Sa — Evolva — FY2021 Earnings Presentation
26 slides from Evonext Holdings Sa's earnings presentation, Mar 10, 2022
Slide 1: Evolva Full-year 2021 results presentation
Evolva Full-year 2021 results presentation 10 March 2022 Christian Wichert, CEO Carsten Däweritz, CFO
Slide 2: Disclaimer
Disclaimer The shares of Evolva Holding (“Evolva”) are traded on the SIX Swiss Stock Exchange (ticker: “EVE”). This presentation may contain specific forward-looking statements, relating to Evolva's future business, development and economic performance. e.g., statements including terms like "believe
Slide 3: Agenda
Agenda 1. Introduction & first impressions Christian Wichert 2. Business highlights Christian Wichert 3. FY 2021 results Carsten Däweritz 4. Outlook Christian Wichert © Evolva 2022 - FY21 results – 10 March 2022 3
Slide 4: Christian Wichert, CEO
Passionate People-driven Providing transparency Christian Wichert Commercially minded • 48 years of age • German, Global citizen Results-oriented: focus & deliver! • Husband • Father of three daughters „ • Runner, Skier, Windsurfer „ Make Evolva a place where results count © Evolva 2022 - FY21 resul
Slide 5: My first impressions after four weeks as CEO
My first impressions after four weeks as CEO Positive Good people: Open, willing, Markets: Addressing megatrends, aspects experienced, flexible Attractive segments and customers Operations: Substantially improved, Knowledge: Good content, spread across products available the organization Business mo
Slide 6: Agenda
Agenda 1. Introduction & first impressions Christian Wichert 2. Business highlights Christian Wichert 3. FY 2021 results Carsten Däweritz 4. Outlook Christian Wichert © Evolva 2022 - FY21 results – 10 March 2022 6
Slide 7: Evolva is continuing its transformation to a commercial-stage biotech company
Business highlights Evolva is continuing its transformation to a commercial-stage biotech company Growing product-related revenues: From R&D to product revenues at the core of three megatrends CHF (health, wellness, sustainability) (million) 10 +40% On the market with +18% six products including Eve
Slide 8: Evolva is active in three promising business segments
Business highlights Evolva is active in three promising business segments Core business segments Developing business segments Segment Flavors & Fragrences Health Ingredients Health Protection Nature-based F&F ingredients Nature-based ingredients for dietary Nature-based products with high efficacy V
Slide 9: Flavors & Fragrances: 48% growth and increased customer activity
Business highlights Flavors & Fragrances: 48% growth and increased customer activity Sales (CHF million) +48% Main developments 2021 Key drivers 2022 • New product development projects • Expand direct customer base restarted after COVID-19 related slowdown in 2020 • Developing Vanillin sales with 2.
Slide 10: Health Ingredients: 46% growth on the back of proven benefits
Business highlights Health Ingredients: 46% growth on the back of proven benefits Sales (CHF million) Main developments 2021 Key drivers 2022 +46% • Secure production of resveratrol as of • Expand direct customer base Q2 2021 • New product development projects with new key customers in the US and •
Slide 11: Award-winning RESHAW study reveals Veri-te's great benefits
Business highlights Award-winning RESHAW study reveals Veri-te’s great benefits and high potency for diverse applications Results: Cognitive health In the RESHAW Study*, the effects of Veri-teTM Resveratrol Well being were examined. Bone mineral density Resveratrol is an effective specialty ingredie
Slide 12: Operations capabilities significantly strengthened
Business highlights Operations capabilities significantly strengthened People Structure Processes Products • Onboarded Gerhard • CMO network further • Main production • Products on stock for customer Lobmaier, COO (Chief strengthened & expanded processes stabilized deliveries Operations Officer) • C
Slide 13: Agenda
Agenda 1. Introduction & first impressions Christian Wichert 2. Business highlights Christian Wichert 3. FY 2021 results Carsten Däweritz 4. Outlook Christian Wichert © Evolva 2022 - FY21 results – 10 March 2022 13
Slide 14: Financial highlights: product revenue growth continued and financing secured
FY 2021 results Financial highlights: product revenue growth continued and financing secured Total revenues: Gross contribution Cash at year-end: CHF 9.9 million at break-even in Q4 CHF 11.0 million (+31%) Profitability Revenues Liquidity Product revenues: Adj. EBITDA1: Available CHF 9.1 million CHF
Slide 15: P&L highlights: Product revenue +40%
FY 2021 results P&L highlights: Product revenue +40% CHF million 2021 2020 • Continued shift from R&D to Product-related revenue 9.1 6.6 commercial revenue with Research & development revenue 0.7 1.0 40% product-related growth Total revenue 9.9 7.5 Gross Profit (9.3) (2.2) • Gross Profit and adjuste
Slide 16: Gross contribution as key performance measure
FY 2021 results Gross contribution as key performance measure Sales - Direct production costs Declining unit costs due to efficiency gains = Gross contribution Going forward: Positive and increasing - Operational costs Largely fix (around CHF 2.5 million) - Operational staff - D&A Mainly capitalized
Slide 17: Key balance sheet items - Assets
FY 2021 results Key balance sheet items - Assets CHF million 2021 2020 • Intangible assets reduction Assets through CHF 9.6 million extraordinary impairment of Intangible assets 113.3 123.9 patents and patent applications Property, plant and equipment 6.0 6.9 Financial assets 3.4 2.5 • Net Working C
Slide 18: Key balance sheet items – Equity and liabilities
FY 2021 results Key balance sheet items – Equity and liabilities CHF million 2021 2020 • Equity increase through Equity and liabilities placements to Nice & Green CHF 20 million and Veraison by CHF 7.5 million, reduction Total equity 131.8 145.1 through net loss of CHF 41.3 million Total non-current
Slide 19: Operating free cash flow
FY 2021 results Operating free cash flow CHF million 2021 2020 • Operating activities include CHF 5.6 million start-up related expenses and Cash Flow an increase in Net Working Capital (CHF 7.5 million) Cash position at beginning 19.7 39.9 Cash flow from operating activities -29.8 -23.4 • Investing
Slide 20: Agenda
Agenda 1. Introduction & first impressions Christan Wichert 2. Business highlights Christian Wichert 3. FY 2021 results Carsten Däweritz 4. Outlook Christian Wichert © Evolva 2022 - FY21 results – 10 March 2022 20
Slide 21: Immediate focus on three levers
Outlook Immediate focus on three levers Boost commercial Focus on target customers with clear value propositions, managing performance: opportunities through the sales process towards closing deals Focus and deliver Cost discipline: Allocate capital to focus areas with substantial impact, Run a tigh
Slide 22: Strengthened transparency and accountability
Outlook Strengthened transparency and accountability Transparency Accountability Governance • Transparency on business • Clearer yearly guidance • Board evaluates to propose performance and several measures to strengthen underlying value drivers • Skin in the game: Commitment shareholder rights at t
Slide 23: 2022 and beyond
Outlook 2022 and beyond Outlook 2022 • Revenue growth of 50% to CHF 15 million at constant currencies • Positive, double-digit gross contribution margin Mid-term • Strategy and mid-term targets are currently being reviewed • To be presented at the latest with half year report in August 2022 © Evolva
Slide 24: Summary
Outlook Summary 1. Capitalizing on global megatrends health, wellness and sustainability 2. Precision-fermentation platform with proprietary technology 3. Operations capabilities strengthened (including CMO network) Evolva - Resolving the Supply Chain & Resource Limitations of Nature 4. Positive gro
Slide 25: Q&A
We are happy to Q&A answer your questions.
Slide 26: Financial Calendar
Financial Calendar Annual General Meeting April 12, 2022 Half-year 2022 results August 25, 2022 Investora Zurich September 21-22, 2022 © Evolva 2022 - FY21 results – 10 March 2022 26